‘Safe Haven’ Gold Is Winning the Fight Against ‘Risk-On’ Crypto
Main Idea
Gold's recent price breakout is seen as a 'risk-off' signal, potentially leading to a correction in the crypto market, with top altcoins like ETH, XRP, and SOL already pulling back from recent highs.
Key Points
1. Gold broke above crucial resistance at $3,365, dampening appetite for risk-on assets like cryptocurrencies.
2. Top altcoins such as ETH, XRP, and SOL have declined from recent highs, with XRP down 5.24%, ADA down 6.33%, and SOL down 2.71%.
3. Analyst Michaël van de Poppe suggests that if gold continues its upward trajectory, it could signal a further correction in the crypto market.
4. The crypto market capitalization has declined from $1.56 trillion to $1.51 trillion, indicating a potential retracement.
5. Gold's breakout is viewed as a classic 'risk-off' signal, which historically correlates with reduced interest in riskier assets like cryptocurrencies.
Description
Analyst Michaël van de poppe warns that a recent breakout in Gold could signal a crypto pullback The move in the safe-haven asset may indicate a temporary capital rotation away from risk-on altcoins Top altcoins like ETH, XRP, and SOL have already started to retrace from their recent yearly highs. The altcoin market is pulling back from its recent highs, and a top analyst believes the reason is hiding in an unexpected place: the gold market. According to Michaël van de Poppe, a powerful breakout...
Latest News
- Arthur Hayes Bets on ‘Internet Status’ Over Tech in the Punks vs. ETH Trade This Cycle2025-07-23 16:27:13
- Goldman Sachs, BNY Mellon Team Up on Blockchain for Money-Market Funds2025-07-23 16:04:39
- Here’s How Star System Labs Is Building Real Infrastructure Utility for Memes Coins2025-07-23 15:43:16
- MICAR-Compliant Tokenforge Introduces Utility Token TKFG2025-07-23 15:21:13
- CoinDCX CEO Vows a “Stronger” Comeback and Launches a 25% Bounty2025-07-23 14:55:36